S&P 500’s best day this year June 6, 2012 US stocks jumped yesterday, giving the S&P 500 its best day since December, as talk of a rescue of Spain’s troubled banks and hopes for more monetary stimulus sparked a rebound from recent selling. After a six per cent fall by the S&P 500 in May that took the index below its key 200-day moving [...]
Trading tech skills shortages are fuelling a war for talent June 6, 2012 THE commodity trading technology sector is suffering from a chronic skills shortage. As other areas within financial services are freezing recruitment, it sits as a pertinent contrast. While increasing use of electronic trading continues to sit at the centre of strategy for most financial institutions, there is a noticeable lack of skilled talent in areas [...]
JOBS of the WEEK June 6, 2012 C++ DEVELOPER CENTRAL LONDON £120k-£144k pa An investment bank requires a developer, with extensive background in risk in financial services, to join its credit risk IT department. Knowledge of pricing derivative trades is advantageous. http://www.cityamcareers.com/job/14044 INVESTMENT MANAGER SINGAPORE £150k pa A global investment management firm is looking to add to its biomedical sciences investment team. [...]
Business schools must ready students for life after emails June 6, 2012 IN THE 1990s, when I was head of communications for WWF International, I spent most of my time touring the Mediterranean. While sounding glamorous, it was tiresome and inconvenient. Email was around, but I could only read messages when physically at my computer, meaning there were long periods when I was without access. Today, businesses [...]
EUROPE REPORT June 5, 2012 THE euro fell and German bond prices gained yesterday as the Eurozone debt crisis showed signs of escalating after Spain said it was being shut out of credit markets. The treasury minister of Spain, the Eurozone’s fourth biggest economy, said high borrowing costs meant credit markets were closing to his country, and he made an [...]
NEW YORK REPORT June 5, 2012 US stocks rose yesterday, recovering some ground from last week’s sharp selloff as investor angst about the Eurozone’s fiscal crisis was offset by data showing the US economy’s services sector grew faster than expected in May. However the technical rebound was expected to be temporary and weak. Financial stocks ranked among the best performers. The [...]
Dig into the miners to take gains from growth June 5, 2012 A BIG problem when it comes to day trading most retail equities is that sifting through balance sheets, analysing company performance and then taking a position based on your analysis isn’t the easiest thing in the world. But when trading mining equities, you often have the advantage of trading the macroeconomic news affecting the stock, [...]
RADICAL CHANGE IS NEEDED FOR THE EURO TO SURVIVE June 5, 2012 DIRECTOR OF CURRENCY RESEARCH, GFT LAST week, my parents, who never trade the currency market, and who are generally bewildered by the volatility of finance, offered the best insight into the what’s really wrong with euro. As we sat down to dinner on a beautiful Boston night, my mother said: “You see, Germans will naturally [...]
Timing your trades on the trend June 5, 2012 AS part of the inaugural City A.M. Active Trader conference held at the end of last month, we hosted a panel of charting experts to guide attendees through what can often be a confusing world of Ichimoku clouds and bearish engulfing candlesticks. But what are the technical indicators that you should pay attention to, and [...]
Analyst picks for 6 June 2012 June 5, 2012 QUANTITATIVE STRATEGIST DAVID RODRIGUEZ My pick: Sell euro-dollar against 1 June high Expertise: System trading Average time frame of trades: 2 to 10 weeks My euro-dollar short trade in May worked better than any trade in recent memory. The pair set its high at the very beginning of the month and did nothing but decline. [...]
